EPCOR Utilities Inc. completes C$250 million debt offering 2023

EPCOR Utilities Inc. (EPCOR) has completed a public offering in Canada of unsecured medium term note debentures in the aggregate principal amount of C$250 million. The notes, which were issued pursuant to a re-opening of existing notes maturing October 3, 2053 with a coupon rate of 5.326%, will be issued at a price of $106.716 per $100 principal amount plus accrued and unpaid interest to yield 4.892%. Net proceeds will be used for general corporate purposes, including repayment of existing indebtedness and financing the Corporation's capital expenditure program and working capital requirements.

These debt securities are rated A (low) (stable) by DBRS Limited, A- (stable) by S&P Global Ratings and A (stable) by Fitch Ratings.

The offering was made in Canada under EPCOR's previously filed short form base shelf prospectus dated December 7, 2021. National Bank Financial Inc. and TD Securities Inc. acted as co-leads and joint bookrunners for the syndicate of agents which included BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., MUFG Securities (Canada), Ltd. and Merrill Lynch Canada Inc.

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For more information, please contact:

Media Relations
Phone: 780-721-9001​
Email: media@epcor.com

Matt Lemay
Investor/Corporate Relations
Phone: 780-412-3711
Toll Free: 1-877-969-8280
Email: mlemay@epcor.com

Caution Concerning Forward-Looking Statements

Certain statements made in this news release are forward-looking statements, including statements relating to the intended use of the net proceeds of the offering of the Notes. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Forward-looking statements are provided herein for the purpose of giving information about the proposed offering referred to above. Readers are cautioned that such information may not be appropriate for other purposes.